Gold and silver prices soar, but tariff threats are questioned: BCA Research reveals the truth
BCA Research said in a report on Monday that it has initiated short positions in silver to counter the overreaction of tariff threats. Analysts pointed out that the United States has weak economic and political motivation to impose import tariffs on precious metals such as gold and silver, and investors should be rational about the recent price increases.
Last Friday, the price of silver failed to hold the $34 mark, while gold held the $2,900 level, showing some buying support. BCA analysis said that the United States has its rationality in imposing tariffs on steel and aluminum, but gold and silver have limited impact on GDP. Taxation will not help economic development, but may prompt gold outflows.
BCA also pointed out that if the United States plans to impose tariffs on gold and silver, it may be announced together with steel and aluminum tariffs. Despite the short strategy on silver, BCA is still bullish on gold and believes that short-term corrections will provide opportunities to increase exposure.
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